economics MCQs – Page 206

Practise multiple-choice questions from economics for competitive examinations and subject revision. Review each marked answer and report any item that may be outdated or unclear.

economics Mcqs

1. the national economy 2. profit maximizing under perfect competition and monopoly 3. application of economics 4. the aggregate demand aggregate supply model 5. surplus 6. money interest rates and output 7. average and total cost 8. stabilization adjustment reform and privatization 9. risks and diversification efficient market hypothesis 10. the phillips curve 11. supply and demand 12. capital formation investment choice information technology and technical progress 13. aggregate supply unemployment and inflation 14. elasticity 15. comparative gdp 16. roots of modern macroeconomics 17. production factors 18. poverty malnutrition and income inequality 19. trade regulations and industrial policies 20. monetary union 21. exchange rate systems and currency crises 22. economic development in historical perspective 23. exchange rate determination 24. monopoly competition 25. the balance of payments 26. inflation productivity 27. macroeconomic issues and analysis 28. employment migration and urbanization 29. macroeconomic policy tools 30. supply side policies 31. exchange rate adjustments and the balance of 32. miscellaneous 33. taxation 34. trade policies for the developing nations 35. markets efficiency and the public interest 36. the external debt and financial crises 37. budget deficits and the trade balance 38. alternative theories of the firm 39. public goods 40. the meaning and measurement of economic development 41. characteristics and institutions of developing countries 42. agriculture irrigation system of pakistan 43. education health and human capital 44. economic problems of developing countries 45. theories of economic development 46. basic of economics 47. consumer theory vs real consumers 48. applied microeconomics 49. long term economic growth 50. externality internality 51. fiscal and monetary policy 52. prices wages taxes 53. balance of payments aid and foreign investment 54. international factor movements and multinational corporations 55. entrepreneurship organization and innovation 56. the international economy and globalization 57. population and development 58. non tariff trade barriers 59. foundations of modern trade theory 60. global economic development 61. market 62. rural poverty and agricultural transformation 63. regional trading arrangements 64. foreign exchange 65. introduction to economics 66. world economy miscellaneous 67. sources of comparative advantage 68. natural resources and the environment toward sustainable development 69. monopoly 70. asymmetric information 71. income inequality 72. labour market 73. tariffs 74. development planning and policy making the state and the market 75. oligopoly 76. industrial development 77. costs supply and perfect competition 78. human capital 79. monetary fiscal and incomes policy and inflation 80. stocks

4101. Supply-side theories claim that__________________?
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A. a decline in aggregate supply is responsible for economic downturns

B. none of the above

C. business cycles are caused by insufficient supply

D. an increase in aggregate supply causes output and employment to decline

4102. The Department of Health and Human Services has summarized the correct mix of goods and services through ?
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A. the externalities index

B. 165 social indicators

C. the consumer price index

D. market basket of goods

4103. Racism is based on the belief (s) that_________________?
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A. the dominant majority is the fittest from a Darwinian point of view

B. groups inherit certain traits that are inferior

C. all of the above

D. minority groups should not have access to wealth and power

4104. Social scientists________________?
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A. provide criteria for choosing a valid religion

B. have no interest in the content of religious doctrines

C. neither accept nor reject claims of divine revelation

D. all of the above

4105. The conflict theory of inequality is based on the work of______________?
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A. Charles Darwin

B. Talcott Parsons

C. Kingsley Davis

D. Karl Marx

4106. The SMSA is based on____________________?
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A. a town smaller than 2500 residents

B. one or more counties containing at least one city of 50,000 residents or two cities totaling 50,000

C. a town of 10,000 and surrounding counties

D. a city of at least 100,000 residents and its suburbs

4107. The most numerous forms of business ownership in the United States is the________________?
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A. subchapter S corporation

B. partnership

C. sole survivorship

D. sole proprietorship

4108. Which component of culture is central to human life______________?
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A. The habitual

B. interdependence

C. The normative

D. The industrial

4109. Today physicians the clergy and lawyers have difficulty dealing with test tube babies and surrogate motherhood We could say that they are grappling with_________________?
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A. cultural advancement

B. cultural change

C. cultural conflict

D. cultural lag

4110. The difference between an average workers salary and that of the average CEO has_______________?
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A. gradually narrowed

B. remained stable

C. slightly increased

D. greatly increased

4111. What percentage of American business revenues do corporation represent ?
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A. 70%

B. 60%

C. 70%

D. 80%

4112. The text primarily applied Weber,s notion of status to______________?
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A. prestige derived from ancestry

B. spending and consumption patterns

C. ranked occupational positions

D. positions in the social system

4113. The view that nationalism would wither away was held by_________________?
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A. stoic philosophers like Marcus Aurelius

B. Marxists

C. classical liberals

D. all of the above

4114. Overpopulation can result in________________?
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A. environmental damage

B. higher literacy

C. increased public services

D. price stability

4115. Pluralist societies depend upon one of the following for their existence_______________?
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A. conquest

B. coexistence

C. immigration

D. colonization

4116. The first technological revolution________________?
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A. took place in 1750

B. turned people from food gatherers to food producers

C. began with the invention of the steam engine

D. occurred in England

4117. Lean production________________?
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A. combines the best features of craft and mass production

B. All of the above

C. pushes responsibility down the organizational ladder

D. has as its goal perfection

4118. American military policy has been built on___________________?
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A. trust in U.S allies

B. very large number of troops

C. assured destruction capability

D. a spirit of peace in the world

4119. The most important of government is to__________________?
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A. implement political control

B. regulate human life in society

C. exercise total control

D. provide social welfare

4120. Which statement is FALSE ?
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A. Stratification occurs in every society that has produced a surplus

B. Slavery serfdom and caste are all instances of inequalities that are social in nature

C. People rank themselves according to wealth prestige and power

D. In simple societies social differences among individuals are nonexistent

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